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The address of both the seller and the buyer must be included in a condition for the sale of the buyer's current property, because of the seller's acceptance of the buyer's offer and the buyer's successful sale of the current property is linked to the transaction.

a) True
b) False

User Scottyaz
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1 Answer

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Final answer:

The claim that both the seller and buyer's addresses must be included in the conditions for linking the sale of the buyer's property to the seller's acceptance is false. However, for market transactions such as property sales, full information about the product's price and quality is essential for reaching market equilibrium and ensuring both parties agree on a price.

Step-by-step explanation:

In response to the initial query, the statement is false. The inclusion of both the seller and buyer's addresses in a condition for the sale of the buyer's current property does not inherently connect to the seller's acceptance of the buyer's offer and the buyer's successful sale of their current property. While the addresses may be included for contact purposes or formalities within the contract, the essence of the transaction relies more on the terms agreed upon by both parties, including the sale contingency clause which typically states that the buyer's purchase is contingent upon the successful sale of their current property.

Regarding the market equilibrium, it is true that for a market to reach equilibrium, sellers and buyers must have full information about the product's price and quality. When imperfect information exists, it can be difficult for a buyer and seller to agree on a price because each party may not sufficiently understand the value or condition of a property, leading to disagreements on its worth. This lack of information can distort the perception of value and delay or prevent the completion of transactions.

User LazyClown
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